Readers of this chapter will be able to:

1. Describe foundational concepts associated with economic policy and the involvement of the federal government
2. Explain key indicators of the economic condition of an economy
3. Differentiate between monetary and fiscal policy
4. Discuss the federal budget process and its complexities at a macro level
5. Describe the historical origins of economic policy and the effects on the economy today
6. Identify key statutes in economic policy and government budgeting
7. Identify major actors in economic policy and government budgeting
8. Detail current issues and challenges in economic policy and budgeting